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5/18, 1:36 PM (Source: TeleTrader)
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Discovery CEO extends contract until 2027 - report

Discovery Inc. President and CEO David Zaslav (pictured) is set to lead the company that will be created via the WarnerMedia-Discovery merger until at least 2027 after signing a new contract, Axios reported on Tuesday, citing unnamed sources.

The combined company's name will be announced next week, along with Zaslav's contract extension, according to the report.

The former NBCUniversal executive is expected to appoint Discovery's chief strategists to lead the same efforts at the new company and is likely to retain the majority of WarnerMedia's creative team. On the other hand, business and corporate personnel at WarnerMedia are reportedly facing layoffs.

Breaking the News / MS